Bank can keep "Co-operative" name

Co-operatives UK, the federation representing the UK's co-operative sector, has said that the Co-operative Bank can keep using its name, providing that it satisfies certain criteria. These include requirements that the bank should “exist in order to promote co-operative activity” and “operate in line with co-operative values, and not discredit the co-operative business model”. In its statement, Co-operatives UK says that it is engaged in a programme of action with The Co-operative Bank to ensure that it complies with the criteria.